Regulations your finance management system should follow

By Andrew Hicks, Chief Financial Officer

Any future-facing financial management software should come with built-in reporting and legislative capabilities. But what regulations should your system follow, and how do you ensure it does the job of keeping your organisation compliant?

Among all the challenges facing finance teams today, regulatory compliance is one that often catches them out. While the wider business invests in systems for growth, performance and innovation, many organisations retain outdated financial management systems to meet fast-changing regulatory reporting requirements.

This is not the best approach in an age where digital transformation is entwined with business strategy. It creates unnecessary extra workload for your people — valuable time which could be better invested elsewhere. It can also leave organisations open to crippling fines.

This is avoidable with the right technology.

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